1. BUSINESS PLANS

2. WHAT IS A BUSINESS PLAN
Set of documents prepared by a firm's management to summarize its operational and financial objectives for the near future (usually one to three years) and to show how they will be achieved.
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3. PURPOSE OF A BUSINESS PLAN
It serves as a blueprint to guide the firm's policies and strategies, and is continually modified as conditions change and new opportunities and/or threats emerge.

4. BENEFITS OF PREPARING A BUSINESS PLAN
Aids in obtaining financing
Motivates
Sets a sense of direction
Serves as a measure of performance
Can be used to plan
Thorough knowledge of industry and market

5. KEY ELEMENTS OF A BUSINESS PLAN

6. EXECUTIVE SUMMARY
An executive summary of a business plan is an overview. Its purpose is to summarize the key points of a document for its readers, saving them time and preparing them for the upcoming content. Please note the following:
It is the most important part of your business plan
It must be clear, concise and compelling so that people will read further
It should be written after you have completed the other sections of your business plan
Try to keep this section to around one page

7. BUSINESS DESCRIPTION The name and location of the business
The nature of the business and product
Legal structure of the business
Objectives and mission statement
The product or service
Regulations affecting the production/supply of good or service

8. MANAGEMENT Do you have the right people for your business?
Indicate who is on your team, their qualifications and responsibilities (ie production, marketing, accounting etc).
If you do not have people in these positions right know because of the size of your business, provide a time frame to put your team together.
How will you overcome any labor shortages?

9. MARKETING
Business Environment Analysis (Target market & customer needs)
Industry Background (Size of industry, demand patterns, industry standards, potential for growth & environmental factors)
Competitor Analyisis
Market Analysis (Customer needs, where are they and how to reach them)
Price
Place
Promotion

10. OPERATIONS
What facilities and equipment do you have and what do you need?
How will you run the business?
How will you keep track of inventory?
How will you keep costs down to remain competitive?
What is your plan for growth?
How does this business mesh with your existing business? It is important that you keep separate records for each different business you have. This way you will know what is making you money and what is not.

11. FINANCIALS
You should include the following financial forms with projections for three to five years:
Income statement
Cash-flow projections
Balance sheet
Explain any assumptions including sources of funds
If you are looking for financial assistance, lenders will want to know where you will get financing for your business and how you will spend the money. They will also want to see historical records for the past three to five years.
You are to show your breakeven point
Financial Ratios

12. THE END